KeyBanc keeps Nvidia Overweight with $330 target after earnings beat

au.investing.com

KeyBanc reiterated its Overweight rating on Nvidia with a $330 price target after the company's second-quarter earnings beat expectations. Nvidia reported data center revenue of $89 billion, up 117% year-over-year, and projected 70% revenue growth for fiscal 2028, exceeding consensus estimates of 45%. The company reset its gross margin lower to 72.5% due to higher memory pricing. Nvidia has $50 billion invested in Frontier AI Labs and partnered with major firms targeting over $500 billion in third-party capital. OpenAI commitments through 2030 total approximately 12 gigawatts.


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